Sayona Mining announces resignation of former non‐executive director Dan O’Neill

Sayona Mining Ltd (ASX:SYA) (FRA:DML) (OTCMKTS:DMNXF) announced the resignation of former non‐executive director, Dan O’Neill.  O’Neill was appointed a director on 10 March 2000, and also served as managing director for about a year prior to the appointment of current managing director, Brett Lynch in July 2019.  Continued review of board composition Sayona managing director Brett Lynch said: “Dan made a major contribution to the development of Sayona’s lithium projects in Québec and on behalf of the board, I would like to thank him for his service. “Sayona continues to review the composition of its board, including new partners, to ensure the company is strategically aligned for the next phase in its evolution, from minerals exploration to development as a fully integrated lithium miner and downstream processing company in North America.” Growth strategy in Québec The emerging lithium miner is focused on advancing its growth strategy in Québec, Canada, including its recently confirmed bid for North American lithium and the development of a lithium hub in Abitibi, including downstream processing, amid soaring demand for lithium from the electric vehicle and battery storage industry. Last week, Sayona Mining entered a strategic partnership with leading US‐based lithium corporation, Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) (OTCMKTS:PDDTF) that will accelerate the development of Sayona’s lithium projects in Québec. Piedmont will acquire an initial 9.9% equity interest in Sayona through a share placement,  and two unsecured convertible notes, which upon conversion would result in Piedmont being issued a further 10% of Sayona’s issued capital for total consideration of around US$7 million.   Piedmont will have the right to nominate one director to Sayona’s board, providing its voting power is at least 9% and will also invest around US$5 million in cash for a 25% stake in Sayona Québec (project investment).